Agriculture News
Weekly corn, soybeans and wheat inspections each declined on the week.
Indiana, Iowa and Wisconsin gain; Illinois unchanged
Significant increase in dry conditions for Arkansas
While prices were mixed, most still remain above nearby futures.
USDA reported net soybean sales of 1.13 MMT for the week ended Aug. 7, with sales primarily to unknown destinations. Meanwhile, old-crop corn and soybean sales each carved marketing-year lows.
Prices lower as harvest progresses well
This year’s crop has been hyped up to be record breaking — we will see how that holds up.
USDA increased the national corn yield by 7.8 bu. per acre while also increasing harvested acres.
Conditions remain relatively good for early August
During the week ended Aug. 7, corn export inspections rose, while soybean and wheat inspections declined.
This week, the team discusses what to look for and what to expect from Tuesday’s USDA reports.
Soybean futures shot higher overnight...
Market is factoring in an above trendline yield ahead of Tuesday’s USDA crop report.